49 Railroad St New London, OH 44851-1257

This exceptional mixed-use property, located at 49 S Railroad St in New London, Ohio, presents a compelling investment opportunity. The building, constructed in 1920, boasts 3,114 square feet across two stories and sits within the Downtown Business district zoning. Currently housing two tenants, the property generates a strong net operating income (NOI) of $16,800, resulting in an attractive 9.39% capitalization rate. The ground floor storefront, currently leased to a candle store for $900 per month, features bright, open spaces and inviting display windows facing two streets, maximizing foot traffic. Upstairs, a one-bedroom, one-bathroom apartment commands a monthly rent of $700. Both tenants are on a one-year lease commencing May 1, 2024, and expiring May 1, 2025. Tenants are responsible for their own utilities. This value-add investment offers significant potential for future growth and income. The property is offered at an asking price of $179,000. This is an owner-landlord situation with no credit rating available for the current tenants. There are no rent bumps included in the current leases. The building consists of one structure with two units.